I'm sorry but YTA. You can have good reason for the name but tbh id be more concerned with my child's future. Your son is gonna be dealing with the same amount of ridicule your dealing with...but worse. If I were you it would not be worth it to me to put my child in that situation.
Like another poster said he'll probably have tons of people assuming he's lying and having to constantly repeat himself and show ID and then deal with bullies, I don't even want think about him apply for job and people seeing his resume. Not fair to him at all. I don't care about parents intentions, if it's gonna make his life worse then don't do it. I do like the idea you had which was changing his last name to your maiden name, sounds so much better!